Equipment purchased on January 2011 for $10,000,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2012, new technology was introduced that would accelerate the obsolescence of Rolando's equipment. Rolando's controller estimates expected future net cash flows on...

On July 1 ,2010 Spahn Co, pays $18,000 to Randle Insurance co. For 3year insurance contract. Both companies have fiscal years ending December 31. Prepare the journal entry on July 1 on and the adjusting entry on December 31 for Randle insurance Co

Assume my assets are 460,000 and liabilities are 300,000 in 2010 and I ade an investment of 50,000 what would the owners equity be?

A company that uses a perpetual inventory system made the following cash purchases and sales: Jan 1: Purchased 100 units at $10 per unit Feb 5: Purchased 60 units at $12 per unit. March 16: Sold 40 Units for $16 per unit Prepare general Journal entries to record the March 16 sale assuming a...

I have a problem I can't seem to solve. Beginning inventory =28000 ending inv=47000, net purchases =110000. gross profit =60 percent what is the net sales revenue. Do you have a formula to figure this out?